Answers That Matter To Your Business
At MacDonald Law, P.C., we have helped hundreds of businesses start, grow and succeed throughout our many years of practice. Whether you’re in the process of expanding, or you have an idea but don’t know where to start, we can answer your questions, create a strategy and help you navigate the legal system moving forward. Below, you can find answers to some of the most commonly asked questions we hear, but if you don’t see your question answered here, please feel free to call our office at 248-775-5338.
Why do I need an attorney to start a business?
There are many reasons to employ an attorney when starting a business. The process can be time-consuming, and the paperwork can feel endless. If you don’t set up your business entity correctly, your personal assets could be tied up in your business, which means you could be held personally liable if your business fails.
The sooner you get an attorney involved in your business, the better. At MacDonald Law, P.C., we help clients set up their businesses correctly and create plans to help them thrive.
Can I pass my business on to a family member in my will?
Most likely, yes. While every situation is different, the sooner you determine who will inherit your business, the better. Even if you are the sole proprietor of a company, it’s important to determine who will inherit it long before you anticipate passing on. Usually, the process to transfer ownership of a business is outlined in a business succession plan, which can be established as part of your estate plan. Our attorneys are skilled in both estate planning and business law, and we can help you ensure that your business is safely passed on to your beneficiary in the future.
Do I need an attorney to write a contract?
Regardless of what kind of contract you need, it’s always a good idea to have that contract drafted or reviewed by an attorney. A contract is a legally binding agreement between parties that could have a significant impact on your business’s ability to operate if it is breached. Whether you need an employment contract or a contract with a supplier, ensuring that you have a well-written contract is one of the best ways to protect both you and your business.